NEW YORK, June 17, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:

To: All Persons or Entities who purchased Sotheby's (the “Company”) (NYSE: BID) stock prior to June 17, 2019.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale ofSotheby's to BidFair USA, an entity wholly owned by media and telecom entrepreneur and art collector, Patrick Drahi. Under the terms of the deal, shareholders, including employee shareholders, will receive $57.00 in cash per share of Sotheby's common stock.  To learn more about the action and your rights, go to:

https://www.zlk.com/mna/sothebys

 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Sotheby's merger investigation concerns whether the Board of Sotheby's breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether BidFair USA is underpaying for Sotheby's shares, thus unlawfully harming Sotheby's shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com